For the past few months, Square 4 has supported our clients and trade association partners in developing their Consumer Duty Board Assessment Reports in light of the pressing 31st July deadline. Through this activity, we have developed a comprehensive Square 4 Consumer Duty Board Report Guide.
The purpose of this document is to help firms ensure that all regulatory expectations, rules, guidance, and industry best practices are effectively considered, evidenced, and approved. Ensuring a robust approach will enable firms to adequately demonstrate they are meeting their Consumer Duty obligations, and have plans in place to continue improving customer outcomes on an ongoing basis.
Consumer Duty is the largest and most far-reaching piece of regulatory change for the last decade, and this first annual Board Report is a significant opportunity for firms to demonstrate they are taking the regulatory sentiment and achieving good outcomes for their customers seriously. It is widely publicised that the FCA will undertake some thematic testing of the Board Reports across all sectors, and it will surely benefit firms where they are seen to be undertaking thorough and detailed work with appropriate data analysis, conclusions, and actions being driven.
Please get in touch with us at hello@square4.com, or the team below, should you wish to discuss how we might be able to support your firm further.
Contacts:
Sean Kulan, Client Relationships Director – skulan@square4.com
Elliot Cooper, Client Partner – ecooper@square4.com
*Having trouble downloading the guide? Please reach out to hello@square4.com to receive a PDF copy.*
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